TOPS Model & the Blockchain

Bitcoin is being pushed into the background slowly, but there is an increased interest for the blockchain technology that is backing Bitcoin. The TOPS model is the best fitted to explain why the blockchain technology is a great piece of technology for a wide range of applications.
TOPS stands for Transparency, Operations, Permanency and Security. Each of these aspects is covered by the blockchain technology.
• Transparency: every transaction can be viewed by anyone. This type of transparency is a key feature of blockchain.
• Operations: the blockchain technology is an open source framework and the same operations are applied by the ledger owners.
• Permanency: a transaction cannot be reversed once it is agreed upon by all ledger owners.
• Security: since every node in the network has to agree on a transaction, the system is very stable and secure.

 

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Thank you for your interest in my blog! On this miniblog, I write mostly short (technical) blog posts that might interest other people. Read more about me or feel free to contact me.

 

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